USD/JPY posted gains in the Asian session. The pair is choppy in the European session.
109.82 is the next resistance line.
108.58 has reverted to a support line after the yen lost ground on Wednesday. 107.68 is next.
Current range: 108.58 to 109.82
USD/JPY ratio is pointing to gains in short positions on Thursday, continuing the direction seen a day earlier. This is not consistent with the pair’s movement, as the dollar continues to post gains. The ratio has a majority of long positions, indicative of trader bias towards the dollar moving higher.